Some Trades (not so hot timing – check orders awaiting fill before start of day)
STO $T 9/16 39 put @ .18
STO $T 9/16 39.5 put @ .30
STO $UVXY 9/16/25 calls @ 1.19 (covered)
STO $SVXY 12/16 45 put @ 2.75
STO $SVXY 9/16 60 put @ .80
STO $SVXY 1/20/17 40 put @ 2.65
STO $TEVA 9/16 51 call @ .48 (covered)
STO $FANG 10/21 95 put @ 2.70
STO $CMG 9/9 425 put @ .60
STO $TWLO 9/16 57 put @ 2.25
STO $STX 9/23 35 put @ .72
STO $SIMO 10/21 55 put @ 2.60
closing Sept 09 $17 call for much better price than earlier this week. I rolled to Sept 16 $17 call for 0.25, closing SVXY $Sept 16 $60 calls for $9.40 after selling for $11.10 weeks ago. Didn’t think I’d break even/ smallish profit on this one.
Sell NUGT assigned from $17 call for $19.33. I sold option for $2.40 so another break-even relief.
$NUGT $26 calls
$SVXY $58 puts
$UVXY $34 calls
$UVXY $58 calls
I was getting very low on open positions, thus this weeks expiration is very light. Next week looks to be getting sporty for the #VxxGame.
Have a great weekend everyone.
#optionsexpiration
$UVXY #ShortCalls – still getting fills after the close – All these are the highest available strike prices (for now).
Sold 1 UVXY Oct 7 2016 40.0 Call @ 1.45
Sold 1 UVXY Oct 14 2016 40.0 Call @ 1.85
Sold 1 UVXY Nov 18 2016 45.0 Call @ 3.10
After the close, STO December 37 puts @1.60
–Expiring —
$SPX Sept 9th 2120/2095 puts, sold for 1.90 on Aug 19th
$SPX Sept 9th 2200/2225 calls, sold for 8.00 on Aug 22nd
Should (finally) be an exciting market next week! I’ll be posting more data on the VIX Indicator and the current correction over the weekend.
Filled after the close…
Sold UVXY DEC 16 2016 35.0/45.0 Bear call spreads @ 1.00
These are in an #IRA so I’ll continue adding to this even if it’s in the money. Each spread takes the same margin so might as well get as much as I can for them.
#SPXcampaign With such an ugly close I see a very high chance that any short put spreads will open Monday at least a dollar further in the hole. So,
Bought to close $SPX Sept 23rd 2050/2025 put spreads for 2.55. Sold for 1.25 on Aug 24th. I will look to roll next week. This leaves me with only 4 put spreads going into next week, as opposed to 8 call spreads.
#OptionsExpiration #Weeklys #Sep09 – No assignment this week as I rolled any at risk options into later weeks.
Big Monthly expiration next week.
— Expirations —
NUGT (Weekly) Sep 9 2016 15 Puts
NUGT (Weekly) Sep 9 2016 17 Puts
UA (Weekly) Sep 9 2016 34 Puts
UVXY (Weekly) Sep 9 2016 35 Calls
UVXY (Weekly) Sep 9 2016 35.5 Calls
UVXY (Weekly) Sep 9 2016 40 Calls
UVXY (Weekly) Sep 9 2016 50 Calls
UVXY (Weekly) Sep 9 2016 45 Calls
UVXY (Weekly) Sep 9 2016 58 Calls
STO UVXY Oct21’16 35 CALL @ 2.41. This call is covered. I have a feeling I could get more on Monday but sometimes that feeling I get is just indigestion 😜
#SPXcampaign i have been trying to sell the 2220/2245 calls all day, but price kept slipping lower. So I threw in the towel and moved a strike lower.
Sold to Open $SPX Oct 7th 2215/2240 call spreads for 1.50.
STO December 38 puts @1.70
STC BUTTERFLY NFLX 100 16 SEP 16 98/100/102 CALL @.30 BTO on 9/7/2016 @ 0.42
Going the other way on gold, starting small.
Sold $DUST Oct 21 60 calls @ 1.20. Highest strike in Oct.
$SVXY #ShortPuts – Added some for next week
Sold SVXY SEP 16 2016 60.0 Puts @ 0.60
Sold SVXY SEP 16 2016 55.0 Puts @ 0.39
Turning short calls into #Strangles
STO January 40 puts @2.60, Scaling into these with lower strikes if we keep going down. These are in My IRA.
#SPXcampaign This one did not quite hit my 3.00 stop, but because the Downside Warning fired, I closed it early.
Bought to close $SPX Sept 30th 2050/2025 put spreads for 2.60. Sold for 1.50 on Aug 30th.
I will wait to roll this on Monday, unless we rally into close today in which case I will reverse-roll into calls.
#VIXIndicator And there we have it… a full warning to the downside. Two signals hit today.
More downside expected in the coming days and weeks. It is very rare for the day of a warning firing to be the low.
Bonds are getting creamed so I’m closing my $TLT Oct 21 short 145 calls that I put on 2 days ago for over 70% max profit, rolling the calls down to 140 and adding 130 puts, creating an October 130/140 strangle with TLT now at 135.51.
Bought to close $TLT Oct 21 145 calls @ .19 (sold for .70 on 9/7)
Sold to open $TLT Oct 21 130/140 strangles @ 1.50
We may hit a Warning today after all… 16.53 level in sight
Added another one 50 cents higher…
Sold 1 SVXY DEC 16 2016 45.0 Put @ 2.55
#Market
Art Cashin often says that markets don’t bottom on Friday’s. So unless we get a big woosh down into the close, I’m planning to hold off until monday before making more trades. Luckily for me, my trading account was sitting very close to being all cash, had very few open positions left going into today. So I’ve got a lot of dry powder to put to work. Just did some nibbling today, early next week might provide chances to really do some selling.
I did some charting of the $SPX this morning looking at some fib levels and some other random levels.
Fib retracements from the Brexit bottom to the high.
23.6% 2146 (right where we are as I right this)
38.2% 2116
50% 2093
61.8% 2069
Fib retracements from Feb low
23.6% 2103
38.2% 2047
50% 2002
61.8% 1956
Other levels
3% pull back 2127
5% pull back 2083
Flat on year 2045
#SPXcampaign #reverseroll
Bought to close $SPX Sept 21st 2125/2100 put spreads for 4.20. Sold for 1.90 on Wednesday.
Sold to Open $SPX Sept 28th 2190/2215 call spreads for 4.50.
This shifts the risk to the upside at around the all-time high, with no position size increase and a .30 credit.
#SPXcampaign – Sold another standard spread and a roll
Sold to Open $SPX Oct 7th 2000/1975 put spreads for 1.40.
Sold to Open $SPX Oct 14th 2025/2000 put spreads for 2.10, rolled from Oct 7th spread stopped earlier, 1.5x position size.
$SVXY #ShortPuts – Sold SVXY SEP 16 2016 60.0 Puts @ 0.45
I still have a few of the strike 60 covered calls hanging out there for next week too.
#VIXIndicator The VIX has hit 14.93, which is 25% above the 2-day VIX closing low (11.94 close from Wednesday). This meets the criteria to fire a downside signal on the Bistro Vix Indicator. A second signal will mean we get a downside warning, which puts us on the defensive for lower SPX prices.
This signal also cancels the Upside Warning that has been in effect since July 8th.
Based on data since the beginning of 2000, there is a 72% chance we will go further down in the markets and hit a Downside Warning.
$UVXY #CoveredCalls – more trades
Sold UVXY Sep 16 2016 32.0 Calls @ 0.22 with the stock at 19.67
Sold UVXY Sep 16 2016 41.0 Calls @ 0.11 with the stock at 19.69
Sold UVXY Oct 7 2016 40.0 Calls @ 0.69 with the stock at 19.14
Sold UVXY Oct 14 2016 40.0 Calls @ 0.92 with the stock at 19.32
STO January 2017, 40 puts @2.25
Closed my Sept 23rd 76.50 Covered Call for a 2.75 profit offsetting the loss on the SPX spread.
Had a 385/435 strangle for next week. Looked like Ackman had blown it up so I closed the 385 put and sold this week’s 435 and then rolled it to 440.
Long story short…taking stock at 428 basis covering next week’s remaining 435 call.
With portfolio margin I think these expensive stocks are pretty darn good bang for your buck. CMG will require 6400 margin for 100 shares with weekly call premium in the 500-600 range. Thinking just disregard stock basis and hang onto it for a nice weekly dividend. Could own it free and clear eventually.
Closed the Sept 28th 2100/2075 BuPS this morning @ 3.45. Was away so missed closing it at my 2.00 stop. Once the fallout settles I may venture back in.
$UVXY looks to be pulling back now so:
STO Oct 7 $40 calls @ $0.64
STO Sep 16 $25 calls @ $0.32
SPY Strangle
Following from TT sold Oct 21 206/221 for 2.26. margin hog of $3800.
#SPXcampaign Bought to close $SPX Oct 7th 2075/2050 put spreads for 2.85. Sold for 1.55 on Tuesday.
Will look to roll this later today. Also trying to stop out of a Sept 21st put spread at the moment.
The VIX intraday high so far is only .11 short from firing a VIX Indicator signal. A second signal is required for a Downside Warning, but that level for today would be 16.53, so it’s unlikely we’ll get a warning today.
MCD Oct16 115 Put STO @ 2.45 (if assigned cost basis $112.55)
MCD at 115 reasonable support
https://www.tradingview.com/x/CPasbqUo/
BTC AMZN 762.5/747.5 BuPS at $2.73 Sold on 9/1 for $4.25
$UVXY #CoveredCalls – yeah! some volatility –
Sold UVXY Sep 9 2016 20.0 Calls @ 0.16 with the stock at 19.05
Sold UVXY Sep 16 2016 29.0 Calls @ 0.22 with the stock at 19.27
Sold UVXY Sep 16 2016 40.0 Calls @ 0.11 with the stock at 19.15
Sold UVXY Sep 23 2016 45.0 Calls @ 0.17 with the stock at 19.29
Just a starter in the #IRA …
Sold 1 SVXY DEC 16 2016 45.0 Put @ 2.05
Nibbled STO 2 Sep 23 $60 puts @ $0.65
PIR
new experience for me, sold short 100 shares of PIR at 4.00. Tim Knight idea.
We are below the 50 day MA. I hope we go down a lot further.
Originally sold 31.5/34.5/34.5/37.5 for today. Sold for 2.30 so max loss of .70. Managed to get the completely in the money call spread closed for 2.73 this morning. Only lost .43 instead of .70. Tried selling some 50 cent puts but couldn’t get a fill. Not worth the risk at this point.
Still a great earnings season! What’s next on the list?
#SPXcampaign Bought to close $SPX Sept 15th 2215/2240 calls for .20. Sold for 2.40 on Aug 29th.
Bought to close SPX Sept 23rd 2240/2265 call spreads for .20. Sold for 1.65 on Aug 26th.
Options Bistro 